on jan 1 a public limited company purchased a second hand machine for rs 3 12 000 an 621543

Model: Preparation of Asset Account under SLM
On Jan 1, a public limited company purchased a second-hand machine for Rs 3,12,000 and spent Rs 12,000 as shipping and forwarding charges; Rs 30,000 as import duty; Rs 3,000 as carriage inwards; Rs 12,000 as repair charges; Rs 3,000 as installation charges; Rs 2,400 as brokerage of middleman and Rs 600 for an iron pad. It is estimated that the machine will have a scrap value of Rs 12,000 at the end of its useful life which is 20 years. On Sep 30, 2006, amount spent on repairs Rs 12,000; on July 1, 2009 this machine was sold for Rs 1,89,600. You are required to prepare the Machinery Account for the first three calendar years.